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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 32,056,710 $ 34,616,880
Interest bearing deposits in financial institutions and federal funds sold 136,466,280 108,947,624
Securities available-for-sale 489,303,666 479,843,448
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost 3,160,000 3,138,900
Loans receivable, net 1,079,657,447 1,048,147,496
Loans held for sale 907,295 2,776,785
Bank premises and equipment, net 17,686,951 17,810,605
Accrued income receivable 10,247,519 11,788,409
Other real estate owned 1,712,661 4,003,684
Bank-owned life insurance 2,860,761 2,842,713
Deferred income taxes, net 1,669,013 1,151,016
Intangible assets, net 3,742,037 3,959,260
Goodwill 12,424,434 12,114,559
Other assets 5,851,660 6,041,126
Total assets 1,797,746,434 1,737,182,505
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest bearing checking 267,144,851 267,441,988
Interest bearing checking 496,017,100 461,857,728
Savings and money market 505,757,908 481,642,221
Time, $250,000 and over 75,667,723 74,206,421
Other time 207,837,426 208,026,740
Total deposits 1,552,425,008 1,493,175,098
Securities sold under agreements to repurchase 41,617,753 42,033,570
FHLB advances 3,000,000 5,000,000
Dividends payable 2,297,149 2,213,459
Accrued expenses and other liabilities 9,913,147 7,180,906
Total liabilities 1,609,253,057 1,549,603,033
STOCKHOLDERS' EQUITY    
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 9,188,594 and 9,222,747 as of March 31, 2020 and December 31, 2019, respectively 18,377,188 18,445,494
Additional paid-in capital 18,155,547 18,794,141
Retained earnings 147,482,450 146,225,085
Accumulated other comprehensive income 4,478,192 4,114,752
Total stockholders' equity 188,493,377 187,579,472
Total liabilities and stockholders' equity $ 1,797,746,434 $ 1,737,182,505